IDEAS home Printed from
MyIDEAS: Login to save this article or follow this journal

El efecto de los impuestos a las transacciones financieras en la estabilidad de los mercados de capital. Un debate sin resolver

  • Alonso, Miguel A.

    (Universidad Rey Juan Carlos de Madrid)

  • Rallo, Juan Ramón

    (Universidad Rey Juan Carlos)

  • Romero, Alberto

    (Universidad Rey Juan Carlos)

This paper analyzes the current debate on the effectiveness and impact of financial transaction taxes (FTT). Despite their regular use in several G-20 countries, there remain unexplained many aspects related to their impact on the stability of financial markets. Thus, although the academic literature tends to agree on the adverse effects of FTT on the trading volume and the value of financial assets, this is not the case in relation to their impact on short-term and long-term price volatility, the price discovery process, and the informational efficiency of financial markets.// El presente artículo analiza el debate en torno de la efectividad y las repercusiones de los impuestos a las transacciones financieras (ITF). A pesar de su uso habitual en varios países del G-20, quedan sin explicar muchos aspectos relacionados con su efecto en la estabilidad de los mercados financieros. Así, aunque la bibliografía académica suele coincidir en los efectos adversos de los ITF en el volumen de operaciones y el valor de los activos, no ocurre lo mismo en relación con sus repercusiones en la volatilidad de los precios a corto y a largo plazos, el proceso de descubrimiento de precios y la eficiencia informativa de los mercados.

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Article provided by Fondo de Cultura Económica in its journal El Trimestre Económico.

Volume (Year): LXXX (1) (2013)
Issue (Month): 317 (enero-marzo)
Pages: 207-231

in new window

Handle: RePEc:elt:journl:v:80:y:2013:i:317:p:207-231
Contact details of provider: Web page:

Order Information: Postal: Order print issues directly in our web page or with Guadalupe Galicia at Fondo de Cultura Económica, El Trimestre Económico, Carretera Picacho Ajusco 227, 6° piso,Col. Bosques del Pedregal, CP 14738, Tlalpan, Distrito Federal, México
Web: Email:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:80:y:2013:i:317:p:207-231. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rosa María González Mejía)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.